Unchained and the University of Austin (UATX) announced a pioneering collaboration to create the first long-term endowment holding in bitcoin.
June 3, 2024, AUSTIN, TEXAS – Unchained and the University of Austin (UATX) announced a pioneering collaboration to create the first long-term endowment holding in bitcoin. Together the organizations are committed to raising $5 million in bitcoin for the University’s long-term endowment, the proceeds from which the University has committed will remain in bitcoin for a minimum of 5 years.
Unchained’s CEO and co-founder, Joseph Kelly, has personally donated 2 bitcoin to inaugurate the campaign.
“I’ve been very passionate about what UATX is building in Austin. I’ve seen the values the organization places on free speech and on building a modern academic institution that’s integrated with the marketplace, and I’m thrilled to play a role in helping the university make bitcoin a part of its long term strategy,”
Kelly said.
This initial donation, alongside Unchained's ongoing commitment to secure and manage the account, sets the stage for further collaboration between UATX and the bitcoin community.
“University endowments are about serving students, and bitcoin provides a unique opportunity for advancing UATX’s commitment to cultivating future generations of leaders and innovators,"
said Thomas Hogan, incoming Associate Professor, Center for Economics, Politics, and History.
The organizations will bring their two respective communities together in a way that creates benefits for both and the industry at large. Main efforts will include joint marketing campaigns, events, guest lectures, and hosted debates.
“Both UATX and the bitcoin community are building innovative institutions for the future. By choosing Unchained as a partner, the university is signaling its assessment of bitcoin’s function as a freedom-preserving technology, with our custody model helping to ensure there is no single point of failure to UATX’s long-term bitcoin holdings,”
Kelly added.
ABOUT UNCHAINED
Founded in 2016, Unchained is a leader in bitcoin financial services and a top-10 bitcoin platform by assets secured, with over $6 billion in bitcoin under protection. Unchained has helped thousands of individuals and businesses truly own their wealth by holding bitcoin keys through its collaborative custody model, which allows clients to access financial services while enjoying the benefits of self-custody, the ultimate protection against financial censorship and counterparty risks.
ABOUT THE UNIVERSITY OF AUSTIN
The University of Austin (UATX) is a new private, nonprofit, nonsectarian university in Austin, Texas, dedicated to the fearless pursuit of truth. Its innovative undergraduate curriculum combines the rich inheritances of the past with the most compelling ideas and initiatives of the present. Each student will undertake a four-year Polaris Project to build, create, or discover something that serves humanity. The University of Austin's inaugural freshman class will begin their journey in the fall of 2024.
